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paying your tax this is week, listen up. we'll talk about you who you might be able to catch a break in the future with an alternative mmximum tax. hmmm, i like the idea of that. you can only pay the government a certain amount and not a penny more, dammit. but what is the threshold? we are playing music. are we doing a segment? let's bring in john cochran, professor at university of chicago boothe school of business. he wrote a editorial of this we have peter morici. he is one of our favorite economists of course. john, explain this concept to me. this is your idea. what's the idea behind this? that after a certain point it is harming the economy to pay too much tax? >> yeah. we all know that. the other point is that we have a big fragmented tax system. so i want to add up not just federal income taxes but there is federal, state income taxes, local income taxes, property taxes, estate taxes real estate transer it taxes, sales taxes. taxes you pay for your employees. when you add it up you're likely paying more than you think. the alternative minimum tax to make sure people don't en
action on behalf of tax payers. good to know, but the last line stuck in my craw. on behalf of taxpayers. why wassermann was not thinking of taxpayers before. and hadley, better late than never? >> yeah, uncle sam, giveeth and take elstaketh away. if you have a government big enough to give you everything you want it is also big enough to take away everything you have. this is just a fraction of the problem. that is $34.5 billions too many. neil: i am happy they are looking out for the taxpayers, they did not start out that way. >> it was $193 million originally. i say only, in principle, supporting clean energy, i get, let's face it we know that climate change, man-made, is going to cause future generations serious problems. so i do understand why the government is going after this. neil: we can -- man-made climate change. >> according to the -- >> i am not getting into that argument but your point on tax thing. >> fundamentally the government should take lead investigating clean energy, you can't always -- >> you win some you lose some. >> you can't always vist short-term, it is a long
and benghazi from a tax of a month ago. the 46 page report issued after months of gathering testimony cites a cable from as early as the 19th of april last year bearing signature with an acknowledgement of a request for more security but approving reductions of facilities and benghazi instead and it includes the obama administration reaction what was called mac a concerted attempt to insulate the department of state from blame following the attacks" end quote. the report's release comes as more than half house republicans are pushing house speaker john painter to create a select committee to investigate the september attack and benghazi. critics attack last night's talk talk imagine that. one that we detail the unanswered questions around illegal immigration we will take that up with the advocacy group that tries to appear so pristine and purer and above politics and we will examine that as well. one of the loudest vocal critics of gang of 8 is congressman smith and he will join us to share his concerns next. for seeing your business in a whole new way. for seeing what cash is coming in and
showed surprising resilience dealing with the payroll tax cut exploration and with the first quarter spending close to what it was fourth quarter. so not a real hit and a decline in gasoline prices will give a consumer and nice boost in to the second quarter summer driving season. even in the short term to avoid getting overly pessimistic. connell: thank you very much dagen: she is trying to get us excited about gas that is $3.51 nationwide. [laughter] the frantic search for survivors has a massive explosion at a fertilizer plant levels homes and businesses across a small texas town. connell: carnival invest hundreds of millions of upgrades but now another one of the ships briefly losing power at sea, believe it or not. now look at the price of oil today below $87. ♪ ♪ [ male announcer ] this is karen and jeremiah they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, the
to manufacturer boxcar on. lori: tax-free online shopping could be numbered. melissa: take another look at metals as we head out to break. copper trading lower. we will be right back. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by cnging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. [ lighter flicking ] [ male announcer ] you've reached the age where giving up isn't who you are. ♪ this is the age of knowing how to make things happen. so, why let erectile dysfsfunction get in your wa? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury
. how many pay taxes? we don't know. how many will pay taxes if they get jobs? how much will they pay in taxes? we don't know. what is the real cost of illegal immigration to the u.s.? the real cost? hohonest square, accounting? what is this answer. what are those illegal immigrants paying in taxes and providing in the way of services to others in this country, some are i imencely productive? what is the cost of the jobs they hold, is there no cost? is it true they only work in industries where americans don't top work. this that is find just give us an answer, do we as a nation make money? do we benefit? do we prosper because of illegal immigration. you hear everyone say we're a nation of immigrants, why don't they say a nation of illegal immigrants? the questions go on and on, is the path to citizenship appropriate? is it good or bad for the economy? it is good for american society. the real question becames after 10 years of debating this issue, why in the world don't we havv these answers? that's the big question. if you have been watching politics, and washington as long as i hav
director, douglas holtz-eakin. we could be hit with an individual security tax. he will explain when he joins tracy byrnes and adam shapiro the next hour of fox business. don't miss it. [ male announcer ] in your lifetime, you will lose 3 sets of keys 4 cell phones 7 socks and 6 weeks of sleep but one thing you don't want to lose is any more teeth. if you wear a partial, you are almost twice as likely to lose your supporting teeth. new poligrip and polident for partials 'seal and protect' helps minimize stress, which may damage supporting teeth, by stabilizing your partial. and 'clean and protect' kills odor-causing bacteria. care for your partial. help protect your natural teeth. care for your partial. if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhal
't guess tax cuts helped here. those are not the kind of things that help. what american is to do is realize, we have people in this world who want to kill us. neil: to their point, governor. i think what he is saying, adjustive it, we would have had more, presumably, security personnel on hand, police on hand, rescue workers on hand to deal with this. by my math looking around the scene before and after, there were plenty of such personnel. i don't know whether in the short time since sequestration boylson street one of them had been laid off. >> well, unless there is some evidence in the boston police force coming forth and says, we were 300 men short, but there was no indication that there was any lack of security for the boston marathon, and i think for people to make those allegations , especially for elected officials, it is simply something for which they should roundly and very visibly apologize for. neil: thank you very, very much. i guarantee you from the left and the right and i have a feeling we will hear more of this sort of stuff. for a considerable amount of time i
: that underestimate the effect of the tax hikes? >> no doubt about it. we have been underweight a negative on the home building and consumer discretionary dough mess i canly levered sectors for a couple reasons. one we thought the market was underestimating the tax effect as you alluded to. the second piece was the market was understilting the fact that the mortgage credit channel remains impaired. you see that in bank earnings this week. all the disappointment on the banking side has come on the mortgage channel. david: why bank of america got hit so hard. >> bank of america, jpmorgan, wells fargo. in essence this is a function of freddie and fannie as well as the fha still mispricing mortgage credit risk. and, there are still being unresolved issues in the banking system about capital requirements for basal 3 and bank uncertainty. david: what about what we still have. you advise getting into bond-like stocks . what do you mean by that? >> well, in essence we've had this outperformance of the more defensive sectors but it is not so much that they're defensive. we're talking about stable cash flows, s
%-from boston. the irs says boston taxpayers will be granted extensions on their tax returns. every little bit helps. that is my "2 cents more." a great night and we will see rebecca tomorrow evening. ♪ lou: lou: good evening and thank you for being with us. details tonight emerging about yesterday's horrific terrorist attack and the boston marathon. the two explosions on boils some street wounded 176 by standards. three people killed. martin richard lost his life in the explosion that also left his brother and sister critically wounded. waiting by the finish line to hug his father and to congratulate him for finishing a marathon. 29-year-old crystal campbell also killed in the attack after adding to the finish line to take a picture of a friend was completing the race. the third victim has now been identified as a graduate student from boston university, but her name has not been released pending notification of next of kin. seventeen other victims tonight remain in critical condition. some have lost limbs or arms, many have suffered severe injuries to their legs. doctors operate
. it lets bmw avoid painful 100% tax that india imposes on if finished cars into the country. that's latest from the fox business network, giving you the power to prosper david: well apple's stock fell to a 1-year low today as word came of delays in production of new products including the iphone 5 s and mini ipad ii. one of those reports about delays came from jeffries and company managing director peter misek. he came from apple's asian manufacturing centers. peter, joins us on the phone. peter, what do you think of the market reaction. do you think they overreacted to the your report? >> i don't think it was our report that drove it alone. our report came out yesterday and market digested it easily. i think it had a lot to do with confirmation that there was a slowdown in production. cirrus logic report worse than expected and guided down materially versus street expectations. we had industry publications out of asia talking about declines in ipad mini production of 20 to 30%. all triangulating on the same data which there is slowdown in apple's production. david: peter, you were actuall
. and the president who accuse someone by the name of mitt romney of not paying his taxes. by golly, they get away with it. at some point here facts are going to begin to matter to the american people. your nose? maybe, maybe, just maybe we were right. now, when the president calls on citizens who want to preserve their constitutional rights and the nra lyres, i think we're getting pretty close to the point. i think if you try much harder, mr. president, we will get there. when things get crazy they get crazier. and elvis impersonator arrested. "dobbs law" next. disappointing economic reports and earnings driving the market's lower. a former ceo of the dnc, john allison's eyes this to tell us what it means. the gang of eight makes its pitch for emigration reforms. the secretary of state, chris go back tells us why it is just one big, bad idea. ♪ are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. @ you know it even after all these yea
to you? >> well, i mean, so much for disgruntled tax filers irresponsible for your will attack. you know, this opens a single to all sorts of investigations. right now obviously there is a major effort not just ride on the ground in the immediate boston regional area, but now you are looking at the jets' new head, you're looking at the extent to which this was deployed from the outside. and to the extent to which there are supports or a support structure internally your that allow for this attack to take place. connell: two brothers are less to be a part of this, one that was killed and the other that is said to be 19 years old and still at large. you mentioned their background, the fact that there are originally from chechnya. they came here, we think, in 2002 and three, some are in an area. is it possible that they just acted alone? working together as brothers? is it more likely from your experience of the years that they did have some support from the outside, or read my be. >> you know, is suspect gillette to let this point, but if i had to put my chest down on a table i was a it wa
higher taxes and the cuts. beige book quotes some firms in some districts quoted higher gasoline prices and expiration of payroll tax cut and winter weather as factors constraining sales and. numerous districts reported uncertainty or weakness in certain military and defense related sectors. tracy: peter barnes, thank you very much. payroll tax, gas two things affect my wallet. adam: they're looking backwards. you have oil below $88 a barrel. tracy: i haven't felt that. adam: hopefully we'll feel it soon. tracy: we have stocks selling off, down about 19 points. the vix also known as the wall street fear index is soaring. let's head down to nicole petallides on the floor of the exchange. the vix will tell you what will happen 30 days from now, right? it is a gauge of the future. that means we're nervous about the future. >> that's exactly right. what it does it takes into account the volatility and fear in the market over the 30 days ahead for the s&p 500. that's exactly what we're seeing here today. we're seeing it at a level of 1 d. it was up over 24% earlier today. we're certainly see
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quickly. the arrest in taxes of the wife of the exit justice of the piece there charged with three murders. the d.a., assistant d.a., and the wife of the district attorney. >> the odd thing about that is police went and basically on her confession that she was the one who often these people, sort of, i guess, in retribution for has been getting convicted. very convoluted. he gets convicted of stealing and lost his job. lou: stealing three computers. >> shooting three innocent people. now warmer has it that she will also put the gun and arouse the sand. right now he has not been charged with murders. >> in jail for making terroristic threats, and he is in jail for the bond. what she is now saying, she's the one that pull the trigger. they found a warehouse full of arms and the car. has really been -- the investigation has been amazing. lou: we don't have an opportunity to do this enough. the investigators, law enforcement agencies, the prosecutors have been brilliant in the state of texas in the way in which they have handled this. >> without a doubt. and the fact of the public did not know
. they are more worried about the impact on the economy and payroll taxes january 1. connell: let's bring just jeff and from raymond james. let's follow up on what peter is reporting on and the financial markets both yesterday and today. even without what happened in boston yesterday was setting up to be a remarkable day. stocks were down. gold was selling off. there were further jitters after what happened in the afternoon, obviously. >> it reminded me very much of the hunt silver corner. when it finally, when the fever finally broke on october 7, excuse me, january 7 of 1980, you had a hard move on silver just like you did on gold on friday. they try to hold the markets together. the margin calls went out. people had to start selling their commodity positions. i do not know if they play that way here or not, but it has had a heart attack on the market and heart attack patients do not get right off the gurney and run a 100-yard. connell: if it bounces back up, is it in your view over at this point and the second part, what, if any, to the impacts of the bombing have? >> the bombings in boston
in the wake of the boss said tax to help out the victims we will talk to ken feinberg to has already got a tough assignment and much more will be donated that is the nature to allocate the bp settlement funds and who is providing these funds? former mcdonald's usa ceo is here to remind us that big business is not always evil. but we thought we would cover the story because that is where the money is coming from. not exclusively but 90 percent has been coming from corporations and business titans to want to help particularly the family of this little boy who was killed in the attack but there are others similarly promised relief. >> it is said justin and generous country when our citizens and young people are under such terrific stress all of us pull together and put aside our differences to reach out to try to help. if you look at corporations over the years and decades or centuries mcdonald's mcdonald's, ronald mcdonald house, ford foundation, gates buffett foundation, a great men and women and corporations to support their communities giveback and i tell people without profits there ca
and also the outlooks are all netive because the sequester, payroll tax cut that went away, all that stuff, melissa is factoring i think what is happening in these companies to where mark's point, yeah they have all run up and now we're starting to say the cows are coming home and we don't have true eaings growth, the top-line growth that we need. melissa: lance, that is absolutely right. that is the theme we hear again and ain, they can't grow the top line because the economy isn't supporting that. what do you do? how do you respond to that? how do you protect your money? >> well the thing is you have to understand, actually mark hit on a great point, since 2009 revenuesnly grown by about 7% of the earnings have grown by almost 230%. the disparity's come from things like stock buybacks, accounting gimmickry in terms when do we account for stuff and when we don't. and so what drives corporate growth in the stock markets over the long term is that top line revenue, sales. that's what we node to see. that is what --. melissa: lance, i know that, tell me how do i protect my wealth in light of
to remember we have a lot of headwinds we're dealing with from the sequester, one, to the tax increase, at the payroll tax. so, these issues we have to get through. i don't think they're major but they are headwinds. now we've got a lot of people thinking about what happened last year. down 3% in the second quarter. people wanted to buy in the market started to dip. wait a minute. this may be more significant. the fact of matter, as he have yesterday, 7% of the companies that reported earnings beat estimates. whether the estimates were poor estimate, weak estimates. the fact of the matter as long as data remains relatively, weak, not strong, muddled through the fed will be a long way as way from ending its quantitative easing. the other thing we havv to pay attention to which i think gives us a lot of upside potential is that what's happening in japan is nothing less than significant. and we need to pay attention to the yen. tracy: so let's first finish with the united states because i know you are hot on the yen. you've talked about it last time you were here. that means based on what
, disability as a designated tax and i should know the number, 1.8% half on the employee, half on the employer. this is predicted decades ago and we're pretty much on course and what we've done in the past is we've borrowed between the disability and the old age trust fund. you can do that. we did that back in '82 when the old age fund was literally out of money for a period of time. that's not a longer term solution. i mean, we're going to have to figure out do you want more revenue, but again, i'm all for cracking down on fraud, i don't know anyone who isn't, but you don't want to have terminal cancer patients dying before he they get their disability. >> yes, sir, that's a given. dean baker, think very much. i'm sorry we're pressed for time and i've got to get the one update in for you about the bombing in boston. there were two and only two devices found. no additional threats have been received. no unexploded devices were found. okay. now this. the amount of u.s. debt owned by foreigners is at a record level and the chinese own the biggest chunk. liz macdonald, charles payne, they're here
Search Results 0 to 27 of about 28 (some duplicates have been removed)